Price Analysis
  • Sahana Vibhute
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    A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

    • 1 minute read

    Ethereum Struggles at $3500 While Lido DAO, & Core Prices Display Strength!

    Story Highlights
    • Ethereum price is utilising all its strength to safeguard the support at $3,500 as fresh bearish activity intensifies within the crypto markets

    • Meanwhile, the Ethereum-based tokens Lido DAO, and Core have been displaying some strength, along with some other altcoins

    No sooner than bears accelerated their pressure over the markets, the BTC price slumped below $65,000 with fewer chances of a recovery. Besides, Ethereum, which has been surrounded with optimism after the recent SEC update, remains self-assured of marking fresh monthly highs. With this, the Ethereum-based tokens, LDO & CORE, have also gained strength but seem to be waiting for the ETH price to secure certain levels. 

    The ETH price is holding crucial support at $3480 and after testing these levels, it has triggered a minor rebound. Technicals suggest the continuation of the recovery phase as the MACD and DMI are about to materialise a bullish crossover. However, the bullish interference is limited, due to which the price may remain consolidated for a while. Further, a notable rise may lift the levels within the upper resistance zone between $3,650 and $3,709. If the bulls sustain here, a rise towards $4000 is imminent. 

    Whatโ€™s Next for Lido DAO & Core Price?

    The Core price has been sustained within a decisive symmetrical triangle even though it lost one of the important supports during the latest pullback. However, bullish signals have been flashed as the RSI has triggered a healthy rebound after reaching the lower threshold. Therefore, the CORE price is believed to reach the edge of the consolidation, trigger a strong breakout and head towards the upper targets above $2. 

    Besides, after a strong recovery, the LDO price is closely consolidating within a range, flaunting the possibility of a bullish breakout. 

    After a brief upswing, the LDO price is consolidating, which indicates the possibility of maintaining a decent upswing towards the upper resistance of the triangle. Unfortunately, the recent pullback has turned the Gaussian channel bearish and the RSI has been diverted from a rising trend. However, the bullish possibility has not waned yet and hence a strong rise above $2.45 is required to squash the bearish narrative. 

    Collectively, bears are trying hard to regain their dominance back on the ETH price rally and the Ethereum-based tokens Lido DAO, & Core. However, they may not do so as a major price action is on the horizon, which may revive the Ethereum ecosystem. 

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